Market Conditions for Fox Lake

April 2019

Median Sale Price$197,949 UP 42.66%vs. Month Ago

Homes for Sale28 UP 33.33%vs. Month Ago

Homes Sold2 DOWN -50.00%vs. Month Ago

Avg Days on Market6 DOWN -90.16%vs. Month Ago

Median Sale Price

The median sale price for homes in April was $197,949. The median sales price for homes in April rose by $59,199 compared to last month. This represents a 42.66% increase from March. Compared to the same month last year, the median price of homes fell by ($18,050) representing a -8.35% year-over-year change.

The median sales price is the middle value of all sales occurring in the market during the past thirty days when you arrange these sales prices from lowest to highest. This is a better indicator than the average as the median does not change as much as a result of a few unusually low or high sales prices.

Homes for Sale

The inventory of homes for sale rose by 7 in April to 28. This represents 33.33% increase from March when 21 homes were on the market. Compared to the same month last year when there were 27 homes for sale, the inventory of homes for sale has risen by 1 representing a 3.7% year-over-year change.

Homes for sale represents the number of active listings on the market during the specified month as reported in the MLS system operating within the market area.

Homes Sold

The 2 homes sold in April was 2 less than in March. This represents a 50% decrease in sales from March. Compared to the same month last year, the number of homes sold decreased by 3, a -60% year-over-year decrease.

Homes sold is the total count of properties in the market area that have had a closed sale during the specified month as reported in the MLS systems operating within the market area.

Avg Days on Market

The average days on market for a home sold in April (6) decreased by 55 days compared to March. This represents a 90.16% decrease in days on market for homes in the market from the previous month. Compared to the same month last year, the days on market for homes sold decreased by 17, a -73.91% year-over-year change.

Average Days on Market is the time period between the date when a home is listed for sale in an MLS system and the date it is sold.

Sale/List Price Ratio

The Sale/List Price Ratio of 100.72% in April rose by 1.62% compared to March and increased 2.24% compared to the same period last year.

Sale/List Price Ratio is the sale price of a listing divided by the original list price expressed as a percentage. The Sale/List Price Ratio for the market is determined by adding the Sale/List Price Ratio for each listing sold in the market during the month and dividing by the number of listings sold during the month.

New Homes

The number of homes listed in April (12) rose by 7 compared to March, a 140% change. Compared to April 2018, the number of new listings increased by 8, a 200% year-over-year change.

Newly Listed Homes are the total count of homes that have been listed within the market area during the most recent month, as reported in the MLS system(s) operating in the market area.

Median List Price Homes

The median list price in April was $211,999. The median list price for homes in April fell by ($42,901) compared to last month. This represents a 16.83% decrease from March. Compared to the same month last year, the median list price of homes decreased ($80,001) representing a -27.39% year-over-year decrease.

The median list price is the middle value of all currently active listings as reported in the MLS systems in the market area when you arrange these list prices from lowest to highest. This is a better indicator than the average as the median does not change as much as a result of the existence of a few unusually low or high list prices.